Russell Investments Group Ltd. Increases Holdings in ING Group, N.V. $ING

Russell Investments Group Ltd. lifted its position in ING Group, N.V. (NYSE:ING) by 511.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 145,583 shares of the financial services provider’s stock after purchasing an additional 121,760 shares during the period. Russell Investments Group Ltd.’s holdings in ING Group were worth $2,852,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Legacy Advisors LLC purchased a new stake in shares of ING Group in the first quarter valued at approximately $28,000. SBI Securities Co. Ltd. boosted its holdings in shares of ING Group by 135.3% in the first quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 912 shares during the period. Redwood Investments LLC purchased a new stake in shares of ING Group in the fourth quarter valued at approximately $41,000. Olde Wealth Management LLC purchased a new stake in shares of ING Group in the first quarter valued at approximately $55,000. Finally, Hexagon Capital Partners LLC raised its stake in ING Group by 21.4% in the first quarter. Hexagon Capital Partners LLC now owns 5,085 shares of the financial services provider’s stock worth $100,000 after buying an additional 897 shares in the last quarter. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on ING shares. Cfra Research raised shares of ING Group from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, May 6th. Barclays raised shares of ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

ING Group Stock Performance

Shares of ING stock opened at $24.8880 on Monday. The business’s fifty day simple moving average is $22.95 and its 200-day simple moving average is $20.66. The company has a market cap of $78.33 billion, a PE ratio of 11.47, a PEG ratio of 1.79 and a beta of 1.14. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.83. ING Group, N.V. has a 12-month low of $15.09 and a 12-month high of $25.11.

ING Group (NYSE:ING) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The business had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.40 billion. ING Group had a return on equity of 11.62% and a net margin of 27.28%. Analysts expect that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

ING Group Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 11th will be given a dividend of $0.4002 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a dividend yield of 450.0%. ING Group’s dividend payout ratio is presently 31.80%.

ING Group Profile

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.